Guideline Value

Corporate

Guideline Value for Pallavan Nagar 6th Main Road

₹3600/sq.ft.

The guideline value for Pallavan Nagar 6th Main Road in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 3600 per sq.ft, effective 1 July 2024. It was Rs 3250 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹3600 /sq.ft.
From 1-4-2023 ₹3250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2177 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹430 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹309 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Pallavan Nagar 6th Main Road

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Pallavan Nagar 6th Main Road guideline value

The current guideline value for Pallavan Nagar 6th Main Road is Rs 3,600 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Pallavan Nagar 6th Main Road has changed

The guideline value for Pallavan Nagar 6th Main Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 309 per sq.ft. It increased to Rs 430 per sq.ft in 2003, followed by a rise to Rs 500 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 3,250 per sq.ft, but this was followed by a decrease to Rs 2,177 per sq.ft in 2017. The current value of Rs 3,600 per sq.ft was established in the 2024 revision.

Between the revisions, there have been notable changes. From 2002 to 2003, the increase was +39%. The value then rose by +16% from 2003 to 2007. The jump from 2007 to 2012 was +550%. However, from 2012 to 2017, there was a decrease of -33%. The value increased significantly by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 shows an increase of +11%. Overall, from 2002 to 2024, the guideline value has increased by +1065%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value is Rs 3,050 per sq.ft, placing Pallavan Nagar 6th Main Road above this median.

Stamp duty and registration fee for property in Pallavan Nagar 6th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty, charged at 7%, amounts to Rs 2,52,000, while the registration fee at 2% is Rs 72,000. Together, the total fees would be Rs 3,24,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pallavan Nagar 6th Main Road?

The Sub Registrar Office that covers Pallavan Nagar 6th Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Maduravoyal

The guideline value is a crucial factor when registering property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale process.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Pallavan Nagar 6th Main Road?

The current guideline value of Pallavan Nagar 6th Main Road is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 309 per sq.ft in 2002 to Rs 3,600 per sq.ft in 2024, reflecting an overall increase of +1065% over the years.

What are the stamp duty and registration fees for properties in Pallavan Nagar 6th Main Road?

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 and the registration fee would be Rs 72,000, totaling Rs 3,24,000.

Which Sub Registrar Office covers Pallavan Nagar 6th Main Road?

The Virugambakkam Sub Registrar Office covers Pallavan Nagar 6th Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Pallavan Nagar 6th Main Road?

The land classification for Pallavan Nagar 6th Main Road is Residential Class I Type - II, indicating its suitability for residential purposes.